TSX futures muted as focus remains on week's economic data

Sept 3 (Reuters) - Futures tied to Canada's main stock index was flat on Wednesday as investors stayed cautious ahead of key economic data that could shape the Bank of Canada's interest rate decision later this month.

Futures on the S&P/TSX index gained 0.01% to 1,696.30 points by 06:50 a.m. ET (1050 GMT). The benchmark index edged up to a record high on Tuesday.

Investors will closely watch Canada's unemployment data due on Friday for potential signals that could guide the central bank's rate-cut path later this month.

The BoC has kept rates steady at 2.75% at its last three meetings since March.

Data showed on Tuesday, Canada's manufacturing sector contracted in August for the seventh straight month as U.S. tariffs weighed on export demand.

Meanwhile, Wall Street closed sharply lower in the first trading session of September as investors weighed a court ruling suggesting most of U.S. President Donald Trump's tariffs may be illegal, while a spike in longer-dated Treasury yields pressured equities.

In commodities, gold surged to a fresh record high and copper prices were steady, while oil prices fell by more than 1% on Wednesday.

In corporate news, Canadian oil and gas producer Strathcona Resources (SCR.TO), said it has purchased additional 6.66 million common shares of rival MEG Energy (MEG.TO), for about C$190.8 million ($138.09 million).

Focus will also be on U.S. job openings data for July later in the day.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory

Reporting by Sanchayaita Roy in Bengaluru; Editing by Vijay Kishore

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

TSX futures muted as focus remains on week's economic data

By Reuters

Reuters

Reuters

Bank of America sees nearly $1 trillion market cap potential for gold miners

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

The Federal Reserve has an opportunity to cut rates by 50 basis points and send gold well above $3,700 - abrdn’s Minter

Gold could take over the dollar’s store-of-value role as fiscal dominance overwhelms the Fed – Sprott’s Paul Wong

Fed cuts and rising inflation could see gold above $4,000, silver above $50, platinum and palladium above $1,800/oz this year – RJO Futures’ Pavilonis